The IEA has been making a lot of seriously stupid calls lately
Governments must increase funds to support carbon capture and storage technology and ramp up efforts to improve energy efficiency or risk missing climate change targets, the International Energy Agency warned.
Progress in deploying nine out of 10 technologies that curb carbon emissions and reduce energy use is stalling, the Paris- based agency, which advises 28 nations, said today in a report.
Greater use of electric vehicles and pollution-trapping CCS equipment are needed to cut energy-related CO2 emissions by half by 2050, according to the IEA. That’s required to ensure an 80 percent chance of limiting the average global temperature rise to 2 degrees Celsius, it said. The IEA reiterated that about $140 trillion will be required to shift to a low-carbon energy industry by 2050.
“Continued heavy reliance on a narrow set of technologies and fossil fuels is a significant threat to energy security, stable economic growth and global welfare, as well as to the environment,” Executive Director Maria van der Hoeven said in the report.